A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. Friday’s jobs report came in strong: the US economy added 261,000 new jobs in October, blowing away analyst expectations of 200,000, even as unemployment ticked up to 3.7%. But don’t let the jobs boom lull you into a false sense of employment security.
▸ Twitter on Friday announced extreme layoffs, noting that offices would be locked and badge access suspended as new CEO Elon Musk cuts about half of its 7,500-person workforce. The bottom line: Headline jobs numbers and third-quarter corporate earnings still reflect a strong economy overall. But other companies won’t be immune to the softening demand from consumers and businesses that tech companies have noted.
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